Teacher Retirement System of Texas Sells 30,458 Shares of Minerals Technologies Inc. (NYSE:MTX)

Teacher Retirement System of Texas lessened its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 63.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,471 shares of the basic materials company's stock after selling 30,458 shares during the period. Teacher Retirement System of Texas owned 0.05% of Minerals Technologies worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MTX. Proficio Capital Partners LLC bought a new position in shares of Minerals Technologies in the 4th quarter valued at about $2,451,000. Raymond James Financial Inc. bought a new position in shares of Minerals Technologies in the 4th quarter valued at about $10,797,000. Amundi lifted its holdings in shares of Minerals Technologies by 189.5% in the 4th quarter. Amundi now owns 16,704 shares of the basic materials company's stock valued at $1,224,000 after acquiring an additional 10,934 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Minerals Technologies by 602.4% in the 4th quarter. HighTower Advisors LLC now owns 27,877 shares of the basic materials company's stock valued at $2,125,000 after acquiring an additional 23,908 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Minerals Technologies by 0.6% in the 4th quarter. Swiss National Bank now owns 63,300 shares of the basic materials company's stock valued at $4,824,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MTX shares. Truist Financial lowered their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Insider Buying and Selling

In related news, CFO Erik Aldag bought 1,000 shares of Minerals Technologies stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the transaction, the chief financial officer owned 4,245 shares in the company, valued at $213,820.65. The trade was a 30.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristina M. Johnson bought 1,000 shares of Minerals Technologies stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the transaction, the director owned 1,400 shares of the company's stock, valued at approximately $75,306. This trade represents a 250.00% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,370 shares of company stock worth $124,255. Corporate insiders own 3.50% of the company's stock.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $59.20 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.31. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $90.30. The firm has a market capitalization of $1.88 billion, a P/E ratio of -76.88 and a beta of 1.20. The company's 50-day moving average is $57.01 and its 200 day moving average is $63.73.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The firm had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same period last year, the company earned $1.49 earnings per share. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. Research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is presently -57.14%.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.

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